Media coverage
Palestinian Information Center · 2010-05-06
Speaking to the Palestinian Information Center, economic analyst Omar Shaban rejects the Arab Bank’s stated reasons – restructuring and losses – for closing two of its branches in the Gaza Strip, calling them “unbelievable and untrue”, since the bank’s profits in Gaza were large, above 25%, and its policies very conservative. He says the dismissal of 100 employees within two weeks without warning or end-of-service pay raises serious questions, and warns that if reports of a deal to close the branches in exchange for closing the bank’s cases before international courts are true, the consequences for Gaza would be negative; the bank, he says, should not abandon its responsibilities and should help ease the blockade.
Speaking to the Palestinian Information Center, economic analyst Omar Shaban rejects the Arab Bank’s stated reasons – restructuring and losses – for closing two of its branches in the Gaza Strip, calling them “unbelievable and untrue”, since the bank’s profits in Gaza were large, above 25%, and its…